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Victim of credit card fraud? Stay vigilant

4 steps to recover from credit card fraud
Keep an eye out after setting a fraud alert

Keep an eye out after setting a fraud alert

If you place a fraud alert on your credit report, you will be entitled to a free peek at your report. Take that opportunity, says Rod Griffin, director of public education at Experian. Doing so does not count as one of the free annual credit reports you're entitled to under federal law.

"Credit card fraud can be a sign that other types of fraud (are) happening as well," he says. "If they have been able to get your account number, it's possible they could have gotten other information."

Make sure all the accounts listed on your credit report belong to you and are accurate. Double-check your personal information as well. If anything looks amiss, call the credit-reporting agency immediately.

As for the fraudulent charges, you won't be on the hook for most, if any, of the charges.

Your liability for unauthorized charges on a credit card is limited to just $50 under federal law. In addition, the major credit card brands -- Visa, MasterCard, American Express and Discover -- have zero liability for cardholders, though some restrictions may apply.

 

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